NEW
YORK, Sept. 9, 2024 /PRNewswire/ -- Report on
how AI is driving market transformation- The global animal feed
market size is estimated to grow by USD
134.4 billion from 2024-2028, according to Technavio. The
market is estimated to grow at a CAGR of over 4.75%
during the forecast period. Increasing investments and expansion of
production capabilities is driving market growth, with a
trend towards rise in global meat consumption.
However, high price of non-gmo animal feed poses a
challenge. Key market players include Adisseo Co., Alltech Inc.,
Archer Daniels Midland Co., Associated British Foods Plc, BASF SE,
Biochem additives and product mbH, BRF, Cargill Inc., Charoen
Pokphand Foods PCL, Chr Hansen Holding AS, Corbion nv, Evonik
Industries AG, International Flavors and Fragrances Inc., Jefo,
Kemin Industries Inc., Kent Nutrition Group Inc., Land O Lakes
Inc., New Hope Group Co. Ltd., Trouw Nutrition, and Tyson Foods
Inc..
Key insights into market evolution with
AI-powered analysis. Explore trends, segmentation, and growth
drivers- View the snapshot of this report
Animal Feed
Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
4.75%
|
Market growth
2024-2028
|
USD 134.4
billion
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
4.45
|
Regional
analysis
|
APAC, Europe, North
America, South America, and Middle East and Africa
|
Performing market
contribution
|
APAC at 49%
|
Key
countries
|
China, US, Brazil,
Russia, and Spain
|
Key companies
profiled
|
Adisseo Co., Alltech
Inc., Archer Daniels Midland Co., Associated British Foods Plc,
BASF SE, Biochem additives and product mbH, BRF, Cargill Inc.,
Charoen Pokphand Foods PCL, Chr Hansen Holding AS, Corbion nv,
Evonik Industries AG, International Flavors and Fragrances Inc.,
Jefo, Kemin Industries Inc., Kent Nutrition Group Inc., Land O
Lakes Inc., New Hope Group Co. Ltd., Trouw Nutrition, and Tyson
Foods Inc.
|
Market Driver
The global animal feed market is experiencing significant growth
due to the increasing consumption of meat. Meat production,
particularly in the poultry segment, has seen a substantial rise,
growing by approximately 16% between 2010 and 2020. This trend is
driven by the steady increase in global meat consumption, which
reached 340 million tons in 2021, up from nearly 248 million tons
in 2018. The population growth and the growing awareness of protein
intake in daily diets are major factors contributing to this rise.
The majority of the increase in meat production and consumption is
from Asia-Pacific and the
Middle East and Africa regions, where healthy economic growth
has expanded production capacity and supply. As a result, the
animal feed market is expected to continue growing in the forecast
period, fueled by the ongoing demand for meat and meat products as
a source of essential nutrients.
The animal feed market is experiencing significant growth,
particularly in the poultry segment, driven by rising global meat
consumption. Market research reports indicate a competitive
landscape with key players focusing on animal nutrition and feed
additives to enhance animals' performance and productivity. Feed
materials like premixes, vitamins, and minerals are essential for
optimal digestibility and meat production. Feed additives,
including antioxidants and trace minerals, improve feed quality and
animal health. Solid feed additives, such as phytase and enzymes,
are gaining popularity due to their ability to increase nutrient
availability. The market facets of animal feed include poultry,
swine, cattle, and aquaculture, with each segment having unique
requirements. Meat production is a significant factor influencing
the market, with stringent regulations ensuring food safety and
animal welfare. Molecular biology is also playing a role in
developing new feed technologies. Animal disease prevention and
control are critical areas of focus to maintain feed manufacturing
efficiency and reduce losses. Overall, the animal feed market is
dynamic, with continuous innovation and improvement to meet the
evolving needs of the livestock industry.
Request Sample of our comprehensive
report now to stay ahead in the AI-driven market evolution!
Market Challenges
- The global animal feed market faces a challenge due to the
higher cost of non-GMO animal feed compared to GMO feed. Non-GMO
feed commands a premium price, offering increased profits for
vendors and farmers. Consumers' preference for non-GMO products as
a healthier alternative drives demand, with profit margins reaching
up to 50%. However, this trend poses a barrier for market growth as
vendors capitalize on this consumer segment. Perceptions of harm to
human health and the environment from GM crops and animal-derived
produce have led some European countries like Germany and Italy to switch to non-GMO feed for meat, egg,
and dairy production. The EU market for non-GMO animal feed,
particularly soya, is thriving, with imports from countries like
Brazil. Despite the benefits, the
high cost of non-GMO feed may limit its adoption among livestock
farmers who rely on GMO feed due to affordability and ease of
access.
- The Animal Feed Market faces several challenges in various
segments, including poultry, swine, cattle, aquaculture, and
others. Ensuring high animal productivity through optimal nutrition
is crucial. Animal feed vitamins, antioxidants, trace minerals, and
sustainable protein sources like soy are essential for livestock
nutrition. Strict regulations regarding animal welfare, feed
quality, and sustainable practices impact feed manufacturing.
Market advancement relies on meeting the increasing demand for
nutritious feed and better health for farm animals. The poultry
segment, driven by growing meat consumption and changing diet
patterns, is a lucrative growth area. Slaughterhouses and meat
production are significant consumers of animal feed. Growth drivers
include disposable income, increasing demand for animal-based
protein diet, and the need for sustainable protein sources. Animal
diseases pose challenges, requiring continuous research and
development of animal additives. Vendor analysis and market
scenario summarization are essential for understanding the
competitive landscape. In summary, the Animal Feed Market is driven
by global meat production trends, especially in developing regions,
and the need for nutritious feed for various farm animals.
Discover how AI is revolutionizing market
trends- Get your access now!
Segment Overview
This animal feed market report extensively covers market
segmentation by
- Type
- 1.1 Poultry
- 1.2 Swine
- 1.3 Ruminant
- 1.4 Aquaculture
- 1.5 Others
- Product
- 2.1 Pellets
- 2.2 Mash
- 2.3 Crumbles
- Geography
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Poultry- The global animal feed market is
anticipated to grow significantly due to the increasing consumption
of poultry meat. With poultry being a preferred choice of meat
worldwide, owing to its religious neutrality and health benefits,
the demand for poultry feed products is on the rise. To cater to
this growing demand, market vendors are expanding poultry
production and launching new poultry feed offerings. Key emerging
markets, such as China,
Brazil, and India, with large populations, are significant
contributors to the poultry meat market. The poultry segment is
expected to drive the growth of the animal feed market during the
forecast period, as the demand for eggs and poultry meat continues
to increase.
Download a Sample of our
comprehensive report today to discover how AI-driven innovations
are reshaping competitive dynamics
Research Analysis
The Animal Feed Market is a significant sector in the
agriculture industry, focusing on producing nutritious feed for
various livestock, including poultry, swine, and cattle. The
poultry segment holds a substantial share due to increasing meat
consumption and global meat production. Animal feed vitamins play a
crucial role in enhancing animal productivity and ensuring better
health. Antioxidants and solid feed additives are essential
components, improving feed quality and reducing the risk of animal
disease. The market's lucrative growth is driven by the demand for
nutritious feed, ensuring optimal livestock diet, and the need for
food safety. Slaughterhouses are major consumers, making animal
feed a vital link in the meat production chain. Molecular biology
and advanced technologies are revolutionizing animal nutrition,
leading to improved animals' performance. The Animal Feed Market's
market facets include feed additives, livestock nutrition, and meat
consumption trends.
Market Research Overview
The Animal Feed Market is a significant sector in the
agriculture industry, focusing on producing nutritious feed for
various farm animals, including poultry, swine, cattle, and
aquaculture. Animal productivity is a key consideration in
livestock nutrition, with animal feed vitamins, antioxidants, trace
minerals, and feed additives playing crucial roles in enhancing
animal health and performance. The poultry segment, particularly
poultry feed, dominates the market due to high poultry meat
consumption and the growing demand for sustainable protein sources.
Feed manufacturing involves the production of compound feed using
feed ingredients like soy, corn, and grains. Stringent regulations
and animal welfare concerns drive the need for feed quality and
food safety. The market advancement is influenced by factors like
meat consumption, global meat production, developing regions,
disposable income, changing diet patterns, and animal diseases.
Market research reports provide valuable insights into the
competitive landscape, growth drivers, and market facets, including
animal feed premixes, chicken meat, and feed additives. Molecular
biology is also being explored to improve animal nutrition and
animal-based protein diet.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
-
- Poultry
- Swine
- Ruminant
- Aquaculture
- Others
- Product
-
- Geography
-
- APAC
- Europe
- North America
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
View original content to download
multimedia:https://www.prnewswire.com/news-releases/animal-feed-market-to-expand-by-usd-134-4-billion-2024-2028-with-increased-investments-and-production-growth-ai-driven-insights--technavio-302240595.html
SOURCE Technavio